SPDR NYSE Technology ETF (NYSEARCA:XNTK) Shares Gap Down – What’s Next?

Shares of SPDR NYSE Technology ETF (NYSEARCA:XNTK) gapped down before the market opened on Thursday . The stock had previously closed at $390.65, but opened at $377.15. SPDR NYSE Technology ETF shares last traded at $378.03, with a volume of 3,214 shares.

SPDR NYSE Technology ETF Stock Performance

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 31.16 and a beta of 1.43. The stock’s 50 day moving average is $354.29 and its 200 day moving average is $302.67.

Hedge Funds Weigh In On SPDR NYSE Technology ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of SPDR NYSE Technology ETF during the first quarter worth approximately $41,000. Arkadios Wealth Advisors boosted its stake in SPDR NYSE Technology ETF by 5.6% in the 1st quarter. Arkadios Wealth Advisors now owns 4,113 shares of the company’s stock valued at $1,050,000 after purchasing an additional 218 shares during the period. Royal Bank of Canada grew its holdings in SPDR NYSE Technology ETF by 12.8% in the 1st quarter. Royal Bank of Canada now owns 30,006 shares of the company’s stock valued at $7,660,000 after buying an additional 3,414 shares in the last quarter. Quantinno Capital Management LP grew its holdings in SPDR NYSE Technology ETF by 623.1% in the 1st quarter. Quantinno Capital Management LP now owns 9,162 shares of the company’s stock valued at $2,339,000 after buying an additional 7,895 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in SPDR NYSE Technology ETF by 38.8% during the 1st quarter. Bank of Nova Scotia now owns 44,422 shares of the company’s stock worth $11,341,000 after buying an additional 12,411 shares during the period.

About SPDR NYSE Technology ETF

SPDR Morgan Stanley Technology ETF (the Fund) seeks to closely match the returns and characteristics of the Morgan Stanley Technology Index. The Morgan Stanley Technology Index is composed purely of electronics-based technology companies. The Technology Index comprises companies drawn from the following technology sub-sectors: computer services; design software; server software, personal computer (PC) software and new media; networking and telecom equipment; server hardware, PC hardware and peripherals; specialized systems, and semiconductors.